Infinity is a CCPC with the following information: Capital Dividend account balance on January 1 of...

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Infinity is a CCPC with the following information: Capital Dividend account balance on January 1 of the current year: $37,280 During the current year, the company had the following transactions: Capital Gains of $9,500 Capital Dividends received of $4,250 Net Income for Tax Purposes of $84,000 Non-Eligible Dividends paid of $20,000 What is the balance in the capital dividends account at the end of the current year? Infinity is a CCPC with the following information: Capital Dividend account balance on January 1 of the current year: $37,280 During the current year, the company had the following transactions: Capital Gains of $9,500 Capital Dividends received of $4,250 Net Income for Tax Purposes of $84,000 Non-Eligible Dividends paid of $20,000 What is the balance in the capital dividends account at the end of the current year?

Answer rating: 100% (QA)

SOLUTION To calculate the balance in Infinitys capital dividend account CDA at the end of the curre... View the full answer